TL;DR
- Figment has acquired Rated Labs to enhance staking data capabilities and give institutional clients better insight into validator performance across networks like Ethereum, Solana, and Cosmos.
- The company, which oversees more than $18 billion in staked assets, will integrate Rated’s APIs and Explorer without changing the brand.
- The deal is part of Figment’s broader plan to allocate up to $200 million for acquisitions as consolidation accelerates in institutional crypto infrastructure.
Figment has expanded its footprint in institutional staking through the acquisition of Rated Labs, a company recognized for its analytics on validator performance and onchain reliability. Although deal terms were not disclosed, the move strengthens Figment’s ability to deliver deeper metrics to exchanges, custodians, hedge funds, family offices, and asset managers that rely on transparent data to make staking decisions with confidence and precision.
Headquartered in Toronto, Figment manages over $18 billion in staked assets and operates validators on networks such as Ethereum, Cosmos, and Solana. The acquisition aligns with its strategy to invest heavily in infrastructure and technology firms that reinforce its offering to large-scale clients and regulated financial entities seeking predictable returns.
Expansion Of Onchain Analytics Capabilities
Rated, founded in the United Kingdom in 2022, gained visibility through products like Rated Explorer and its data APIs, which monitor validator performance across multiple protocols. Its team and technology will join Figment, but the public-facing Rated brand and site will stay active. Figment was already one of Rated’s largest customers, smoothing the path for integration and reducing onboarding friction.
Andrew Cronk, Figment’s chief product officer, emphasized that transparent data is essential for institutional adoption of staking. Enterprise API offerings from Rated will be reviewed with clients in the coming weeks, with no planned disruption to existing services or network tracking tools.
Consolidation In Institutional Staking
The acquisition reflects a growing wave of consolidation among crypto companies aiming to scale infrastructure, enhance governance, and meet institutional expectations. Recent deals by Kraken, Ripple, Keyrock, and MoonPay indicate a trend driven by expanding regulatory clarity and the need for integrated technology stacks with global reach.
Figment is not seeking outside capital and has no plans to sell. CEO Lorien Gabel has repeatedly stated his commitment to independent growth, supported by $165 million raised from firms like Thoma Bravo, Franklin Templeton, and Morgan Stanley.
Executives at the company have hinted at further deals in the near term. The addition of Rated not only broadens Figment’s product suite, it also strengthens its standing as a provider of verifiable performance data in a market where institutional clients demand precision, reliability, and scale.
